This Week in Comments

Plaza unit loses 40% of value in 14 months
If this was a co-op, the board would not have approved this bargain basement sale. Just goes to show [you] why co-ops will hold their value over condos, despite the rigmarole and dog crap the board puts new buyers through.

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Why are more seniors getting reverse mortgages?
Reverse mortgages are one of the few financial products that seniors can use that will guarantee to make their life better.

Trump name trumps other factors in move
“Asking price” is not the same thing as the price that was settled on. I heard they negotiated big time.

Rushmore buyers use error to demand deposit refunds
It may be the fault of the law firm, but a client should always double check everything done by their attorneys, who are prone to so many mistakes it is ridiculous.

Distressed NY metro-area assets hit market

Distressed asset sales will be the norm for a short time, devastate all of the comps, which will be forced to slash pricing. Normal sales will resume at a lower threshold, and this whole mess will be over. To think that many more distressed sales aren’t coming is a pipe dream.

High Line founders consider tax to raise funds

Asking private property owners to pay additional taxes to fund public parks is absurd. What other public parks in the city mandate taxes on private property owners who happen to live near the public park?